Caterham’s immediate future in F1 appears to be secure, despite the bleak outlook of its associated company.
Earlier this month, a variety of goods were seized from Caterham Sports Limited, including a 2013 test car, simulator wheels, memorabilia and other equipment. The items, which were meant to be auctioned off, have been put on hold, pending the outcome of a court hearing.
Although CSL is a supply company to the Caterham F1 team, its also independent from the latter, whose F1 license is owned by a Malaysian company called the 1Malaysia Racing Team Sdn Bhd (1MRT). Its understood the assets that were seized belonged to 1MRT, and not CSL.
A spokesperson for CSL confirms its currently working on a solution, with ongoing talks being held between the administrators, team manager, and the team’s financial backers. They are hoping the talks will lead to a financially acceptable arrangement, for the continuation of the relationship between CSL and the F1 team.
Should however they fail to come up with an agreement, the administrators will then consider talks with other interested parties, on the possibility of selling the business and assets of the company.
Throughout all this, Caterham is still expected to compete in the remaining three Grand Prix races of the season in the US, Brazil and Abu Dhabi.
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